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Kremlin to Nominate a New Rosneft CEO

By

Alexander Kolyandr And

Jacob Gronholt-Pedersen

Updated Sept. 4, 2010 1:40 p.m. ET

MOSCOW—The Kremlin Saturday said it will nominate Eduard Khudainatov, first deputy president of Russia's OAO Rosneft, as head of the company—ending year-long speculation about who will take over the top job at the state-controlled oil giant.

Rosneft's current chief executive, Sergey Bogdanchikov, has headed the company since 1998 and saw the company through its initial public offering and the controversial acquisition of the production assets of the bankrupted oil company Yukos. But observers have said in recent months he will...